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Thu February 29 2024

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Insulation supplier expands and eyes flotation

16 Mar 21 Sheffield-based Galaxy Insulation & Dry Lining has opened its ninth UK depot amid an upturn in business.

Galaxy's new Newcastle depot
Galaxy's new Newcastle depot

Galaxy Insulation & Dry Lining is in expansion mode and its owners have ambitions for a stock market listing.

Its newest outlet is a 37,000 sq ft depot in Newcastle’s New York Industrial Park to serve the northeast region.

Galaxy was founded in South Yorkshire in 2009 and has depots in Sheffield, Leeds, Haydock, Birmingham, West Brom, Bedford and two in London. It employs 225 people.

Managing director Tracy Shepherd, who led a management buy-out in 2019, said: “We have always wanted a presence in the northeast but knew it was vital to have a local team with the right experience and understanding of what customers in the area expect.”

The company’s growth has been rapid since the management buy-out. More new locations are planned, it says, and the directors recently appointed former Sport England chair Sir Rodney Walker as non-executive chairman to provide direction for strategic growth plan and a potential stock market listing.

Galaxy supplies products from leading manufacturers including Kingspan, Rockwool, Etex, Knauf, EcoTherm and Hush Acoustics.

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